(a) The board shall select one or more banks to serve as the district's depository.(b) District money shall be deposited as received with the district's depository bank.(c) All deposits shall be secured in the manner provided for securing county funds. Deposits may be placed on time deposit or used to purchase certificates of deposit. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Texas Legal Code